What Happens When You Pay Minimum Payments on Credit Purchases

Multiple Choice

What happens when you pay minimum payments on credit purchases?

A) It can take many years to pay back the original debt, but you will never have to pay more than the original amount borrowed.
B) The credit card company eventually sends the bill to a collections agency that will help you finish paying off the original debt.
C) It will take many years to pay back the original debt, and in the meantime, the interest paid will far exceed the original amount borrowed.
D) The credit card company will eventually forgive the purchase and allow you to stop making payments.
E) Eventually, you will have to sell the item and use the proceeds to pay it off.